Dejavu. Check out this Time article of 1938

Discussion in 'Economics' started by KINGOFSHORTS, Jul 4, 2009.

  1. Lets see, GE dividend cut, hope for housing to get them out of the depression etc.. (second GE dividend cut, the first one in 1931),9171,849040,00.html

    lightly offsetting this gloom, some economists pointed to one sign that Recovery II might be just around the corner: Housing, white hope of 1938. at long last seemed to be bestirring itself. In May, home building east of the Rockies, as shown last week by the F. W. Dodge reports, topped both April and March levels. Though this could logically be laid to the weather, it was noteworthy that engineering contracts of $45,250,000 were 27% above the same week of 1937, shoving the 1938 total to date 7% ahead of last year.

    Here is another interesting article. About how to get the economy going by giving consumers purchasing power, maybe Obama and corporate US should read this.

    printed in Apr, 15 1939

    "Had 20 billions in the several years prior to 1929 been distributed in the form of added wages and dividends who would spend them principally for consumption goods it is quite likely there would have been little unnecessary plant-extension construction, no excess bulding of stock prices to the breaking point and no resulting panic and depression",2373905

    Near Panic on stock market. (oct 24, 1929),3180432,9171,787517,00.html

    For so many months so many people had saved money and borrowed money and borrowed on their borrowings to possess themselves of the little pieces of paper by virtue of which they became partners in U. S. Industry. Now they were trying to get rid of them even more frantically than they had tried to get them. Stocks bought without reference to their earnings were being sold without reference to their dividends. At around noon there came the no-bid menace.
  2. And another one.

    Nov, 25 1929

    Heroes, Wags and Sages.,9171,738126-3,00.html

    And of course, Shortsellers were considered evil back then just like now.

    "Public confidence was helped when the Stock Exchange requested its members to report details on all sales and short stock, a privilege not used since the War. Although there is of course no legal wrong in selling short, few big operators would care to be exposed as "raiding the market," especially in a period when a decline might carry along U. S. prosperity. And if the "bear pool" were found to be an actuality, disclosure of its identity would enable powerful bulls to determine exactly how much pressure would be needed to destroy it."

    "Suicides, long rumored, became facts, indicated some losers. Most prominent of suiciders was James J. Riordan, president of New York's County Trust Co. (TIME, Nov. 18). In Manhattan, George E. Cutler, wholesale produce merchant, jumped to death. In Philadelphia, Frank S. Palfrey and W. Paul Brown, brokers, shot themselves. In Chicago, Herman L. Felgenhauer, grain broker, took gas. A Rochester suicide was Robert M. Searle, president of Rochester Gas & Electric Co., who was supposed to have lost $1,200,000 in October. Once before he had lost $1,000,000, had gone to a sanitarium. In Scranton (Pa.), Carl S. Motiska, civil engineer, saturated his clothing with gasoline, lighted it, burned to death. His wife died several hours later from burns she received trying to beat out the flames. To contradict rumors of a suicide wave, New York authorities showed that in Manhattan there were only 44 from Oct. 13-Nov. 15, as compared to 53 last year.
  3. *sigh*. So it is same blindness. different era.
  4. lrm21

    lrm21 gets better read on to see what happens between 1939 and dec 7, 1941.

  5. You do realize, even through that dim witted right-wingnut foggy mental state, that 2 decades of Republican deficit spending + govt. growth has to eventually be paid off by someone?

    On another note:

    What's wrong with your brains?

    were you people dropped on your heads as babies?

    were your mothers snorting crack when she was pregnant?

    are you all fetal alcohol syndrome babies?

    are all your fathers down syndrome cases?

    what is the matter with your loony right winger brains?

    really. someone needs to crack open your retarded brains to take a good look at what's broken inside.

  6. NazSpaz


    Sorry but looks like you are the one who needs to answer these questions yourself.

    Why do people like you mess up a good thread like this, these historical articles are great. Those who do not know history are doomed to repeat it.

    Why do so many people like you trah these boards with mindless crap that turns everything into a political yelling match?
  7. fhl


    Obama runs up 1-2 trillion dollar deficits as far as the eye can see, and this guy's response is that republicans are stupid or something.

    You might also be interested in knowing that before he changed handles, he spoke of the appointment he made with a psychiatrist to deal with depression. Does anyone think the treatment is working? lol
  8. Obama released money that was already signed into law by your esteemed and equally retarded leader Bush jr.

    Do you realize you crack head republicans left the next 10 generations holding the bag for your retarded policies?

    Who do you think put the economy in a death spiral?

    We were unfortunate enough or stupid enough to let you republicans control the last 10 years.

    So, back to the original question.

    what the heck is wrong with your mental state? why do you people lack basic cognitive abilities?

    Are you people all crack babies?

    Something is definitely NOT working up there.

    Are you able to play connect the dots?

    Do you realize the level of debt the Republicans have left us with?

    Do you realize the exponential growth in govt. and the resulting costs you crackhead republicans have left us with?

  9. #10     Jul 6, 2009